Episode 28
06.11.2026Armin Choksey
What makes Singapore one of Asia's most compelling fund hubs, and what should European managers know before they go? David Eckner talks to Armin Choksey, Partner at EY in Singapore, about the city-state's fund market and the role foreign managers, sponsors and investors play in it. Armin led the project for Singapore's Variable Capital Company (VCC) legislation. They discuss why Singapore appeals as a fund hub, where newcomers misread the market and how the VCC compares with familiar Luxembourg and Irish structures. They also cover how to choose between a VCC, another local structure or an offshore fund with a local presence, and the most common pitfalls in structuring, substance and compliance. To close, they look ahead: what would it take for the VCC to become a mainstream global fund platform?
Armin Choksey is a Partner at EY in Singapore, focusing on Wealth & Asset Management. He has more than 25 years of experience in the fund industry, including 18 years with two other Big Four firms in Mumbai, Boston, New York, Luxembourg and Singapore. Before joining EY, he consulted with the Monetary Authority of Singapore (MAS). He led the project for Singapore's Variable Capital Company (VCC) legislation and was the main author of the white paper to the MAS on introducing an "Open-ended Investment Company" law in Singapore. He also co-chairs the Asia Region Funds Passport working group of the Asia Pacific Financial Forum and lectures at institutions including NUS and NTU.